For Sale
$2,275,000

4651 Butler AveFarmington, NM 87401

High-yield NNN retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a brand-new, 10,640 square foot Dollar General store located at 4651 N Butler Ave, Farmington, NM 87401. Built in 2024, this single-tenant, net-lease property sits on a 1.7-acre lot and boasts a 15-year lease with five 5-year options, expiring October 30, 2039. The lease includes attractive 5% rent bumps every 5 years, ensuring consistent income growth. The property offers a compelling 6.50% cap rate and a price per square foot of $213.82, totaling an asking price of $2,275,000. This large-format "Plus" store design serves a substantial 5-mile population of 47,852. The investment-grade tenant, Dollar General, is rated "BBB," providing significant financial stability. This is a truly passive investment opportunity with no landlord responsibilities. The property's strong tenant, long-term lease, and built-in rent increases make it an ideal addition to any portfolio. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset in a growing market.

Highlights

  • Rare 5% rent increases every 5 years.
  • 6.83% initial term average yield.
  • New 2024 build-to-suit construction.
  • New large-format "Plus" Dollar General store.
  • New 15-year NNN lease with five 5-year options.
  • 5-mile population of 47,852.

Property Details for 4651 Butler Ave

Property type
Retail properties, Retail space
Square Feet
10,640 SF
Year Built
2024
Lot Size (sq. ft)
74,052 SF

Location Insight

City
Farmington
County
San Juan
State
New Mexico
Latitude
36.76972795
Longitude
-108.18587865
4651 Butler Ave, Farmington, New Mexico

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4651 Butler Ave
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